ASM International stock targets stronger growth after record quarter

Published on 11/04/2026 at 10:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ASM International stock enters a stronger growth phase after record semiconductor demand. A new buyback adds a capital-return angle for investors.

Growth outlook moves ahead

ASM reported record third-quarter revenue on strong AI, advanced logic and memory demand.
Management expects 2027 revenue to exceed 5.7 billion euros, reaching its former 2030 target three years early.
A new buyback authorization of up to 300 million euros adds a capital-return element for shareholders.

ASM, NL0000334118, Illustration mit AI erstellt.

ASM International reported record third-quarter revenue on October 27, as demand for advanced semiconductor manufacturing equipment accelerated across leading-edge logic, foundry and memory applications. The company said revenue reached 1,159.4 million euros, up 45 percent from the year-earlier quarter on a reported basis and 44 percent at constant currencies, according to its October 27 press release.

Record quarter resets growth expectations

Advanced logic and foundry sales were the main growth driver, supported by continued investment in 2nm production, increased activity at 3nm to 5nm and a first solid contribution from 1.4nm investments. Memory sales also increased strongly, particularly in high-bandwidth-memory-related DRAM. Mature logic and foundry sales, mainly driven by China, remained robust.

Equipment revenue rose 48 percent year on year at constant currencies to 936.4 million euros, while spares and services revenue increased 31 percent to 223.1 million euros. Gross margin held at 52.0 percent, compared with 51.9 percent in both the second quarter and the year-earlier period.

Adjusted operating profit increased 56 percent year on year to 386.7 million euros, lifting the adjusted operating margin to 33.4 percent from 30.9 percent. Adjusted net earnings rose to 315.4 million euros from 206.2 million euros. Reported net earnings declined to 308.1 million euros from 384.1 million euros, primarily because the year-earlier period included a large impairment reversal related to investments in associates.

Management lifts medium-term ambition

ASM expects fourth-quarter 2026 revenue of 1,230 million euros, plus or minus 5 percent, at constant currencies. Based on that outlook, full-year 2026 revenue is expected to increase by approximately 35 percent at constant currencies, with equipment revenue growing by more than 40 percent.

For 2027, management now projects revenue above 5.7 billion euros at constant currencies. That would match the revenue target set for 2030 at the company's 2025 Investor Day three years ahead of plan. ASM expects advanced logic and foundry to remain the strongest growth driver, supported by higher 2nm sales and momentum in 1.4nm. The company also expects stronger memory demand, while power, analog and wafer segments are projected to recover.

Management highlighted tight supply-chain conditions as a factor that could affect the planned shipment ramp. ASM said it was working with suppliers and customers to support delivery schedules. The company also launched XP8 Vertos Flowable Carbon, a PECVD technology already deployed in high-volume manufacturing for advanced three-dimensional logic and memory devices.

Buyback adds capital-return support

The board authorized a new share buyback program of up to 300 million euros on October 27. ASM completed an earlier program of up to 150 million euros during the third quarter, repurchasing 185,522 shares at an average price of 808.53 euros. Details of the new program will be announced before it begins.

ASM International stock traded at 708.50 euros on Lang & Schwarz at 10:45 CET on Wednesday, November 4, 2026. Investors can follow the real-time quote of ASM International stock.